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AI Startup Daydream Raises $50M to Revolutionize Shopping

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A new company called Daydream is here to make online shopping easier using machine learning. They just raised $50 million. The company will launch this fall and aims to make finding products online less tiring.

As Web3 grows, companies are taking different approaches. Some, like Farfetch, are creating their own programs to stay ahead, while others, like Estée Lauder, are funding startups. Both ways show a bright future for new technology and the fashion industry’s move towards the virtual world.

In other news, Farfetch is supporting an AR platform called Wanna that uses virtual try-ons for fine jewelry.

Julie Bornstein, who helped start the fashion platform The Yes, has raised $50 million for her new AI-powered startup, Daydream. She co-founded it with former employees from Microsoft, Google, Amazon, and Farfetch. The funding round was led by Forerunner Ventures and Index Ventures, with help from Google Ventures and True Ventures.

Daydream is a platform that helps people find fashion items using AI. Users can describe what they’re looking for, and Daydream will show options from different brands. The platform will be available in beta this fall.

While Google’s AI shopping tool searches the entire internet for fashion items, Daydream only shows products from 2,000 brands like Net-a-Porter, Alo Yoga, Altuzarra, Jimmy Choo, and Dôen. Bornstein says the goal is to make fashion searches easier, not just to use AI for its own sake.

AI in online shopping is still new, but more retailers are starting to use it. For example, Michael Kors added an AI chatbot to help with sizing and styling, Meta’s smart glasses offer shopping advice, and Apple’s Vision Pro headset uses VR, AR, and AI.

Source: jingdaily